Fridley, Minnesota Business Gets SBA-Guaranteed Funding from Wells Fargo Bank

Wells Fargo Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This business knew how to go about getting a business bank loan. Based in Fridley, Minnesota, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
FRIDLEY, MN 55432

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

811192 - Car Washes

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$715,000

Loan Approval from the SBA

Of the total $715,000 loan amount, the SBA guaranteed $536,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. This SBA loan request indicated that the loan would help retain 22 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a company in Fridley MN, you ought to talk with a local Fridley SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fridley businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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